Klarna launches app and Pay in 3 option

Klarna, the Swedish payment service that is already being used by more than 200,000 merchants globally, is launching a dedicated app which mobile users can use to keep track of payments and make purchases.

“A common problem merchants are facing is to offer a seamless online shopping process,” said Daniel Espejo, Country Manager Spain at Klarna. “Consumers find something they’d like to purchase online but end up abandoning it due to long or complex checkout processes, extra fees or the lack of willingness to pay online for something that may not end up being delivered or not look as expected.”

Klarna also introduced Pay in 3 in Spain which lets shoppers split their purchases into three equal payments.

This means that Spanish shoppers can make a purchase and pay it off in three instalments over 30 days.

“Retail is changing at a rapid pace due to rising expectations from Spanish consumers. More than ever, consumers demand transparent and efficient shopping services that match their daily needs,” said Sebastian Siemiatkowski, CEO and co-founder of Klarna.

“We believe the future of retail is high tech powering high touch experiences, so regardless of how and when consumers want to shop and pay, we need to be there for them. That’s why we focus on unique shopping solutions that allow consumers to take control and shop on their own terms. We are very excited to launch in Spain today and elevate the shopping experience for all Spaniard.”

The company is launching at a time when eCommerce revenue in Spain is predicted to grow 7.6% to a market volume of €22.9 billion by 2024.

Klarna launched back in 2005 and is valued at €5.5 billion ranking among the largest fintech apps in Europe.

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